Tech Firm Bastion Subleases 4K-SF Office at 216 Bowery

Technology firm Bastion is moving into office space in Nolita, Commercial Observer has learned.

Bastion, which enables financial institutions to launch, manage and scale regulated cryptocurrencies, has signed a three-year sublease for 4,044 square feet on the fourth and fifth floors of Big Move Properties’ 216 Bowery, according to tenant broker Current Real Estate Advisors. Asking rent was $80 per square foot.

Bastion subleased the space from barbershop and salon-booking software firm Squire Technologies, which took 10,129 square feet on the second through fifth floors of the five-story building in November 2021, as CO previously reported. It seems Squire will stay in its remaining office and retail space.

Current Real Estate Advisors’ Adam Henick and Oded Nachmani brokered the deal for Bastion, while Cushman & Wakefield’s David Hoffman and Sam Hoffman represented the landlord and sub-landlord.

C&W declined to comment, while spokespeople for Bastion, Big Move Properties and Squire did not immediately respond to requests for comment.

Big Move Properties, helmed by Crunch Fitness founder Douglas Levine, bought the building between Spring and Prince streets from the Arizona State Retirement System earlier this month for $6.3 million, property records show.

Bastion moved into its new space at the property this month, according to a LinkedIn post from Bastion CEO Nassim Eddequiouaq.

Isabelle Durso can be reached at idurso@commercialobserver.com.